It’s the one question we all ask when determining which insurance agency to go with: how high is the premium? Although there are countless other aspects to take into account when signing up with an auto insurance policy, the price of the premium seems to be a deal maker or breaker with most people.
No one wants to pay a high amount for their car insurance – no matter how good it is. With the economy functioning the way it is, high prices are an instant buzzkill, sending people running immediately in another direction.
Many insurance agencies offer discounts and work with you to keep your premium low, but there are things you can do, also. Just like doing extra credit grants you a higher grade, or performing service work can lower your tuition costs, so too can “going the extra mile,” and fulfilling specific tasks deduct costs out of your car insurance.
Here’s are 5 things you can do to bring your insurance premium down to a satisfying sum.
1. Choose Your Car Wisely
When shopping for a new vehicle, check to see if it has any special safety or security features. Choose a vehicle that has a number of already built-in safety features, like airbags, anti-lock breaks, anti-theft systems, or engine cut-off systems. These may qualify as discounts off your premium. Check with your agent to be sure.
2. Check Out The Deductibles
You’re looking into insurance to keep you safe from potential accidents; ask yourself if you can afford what you would have to pay in one of those scenarios. You look towards your deductibles for that; the amount left over, after an accident, after insurance pays, that you are responsible for. Can you do it? The rule is, the higher your deductible, the lower your premium. The more you pay at the time of the incident, the less you pay overall for the policy. Depending on your financial situation at the time, you may consider choosing higher deductibles (which can range from $0 – $1,500), in which case, you would be paying a lower premium. This option isn’t for everyone, but sometimes it’s ideal if you can’t make sufficient periodic payments.
3. Go Back To School
Consider taking a defensive driving course. Some people think only teens and seniors can do this, but program is actually open to anyone. It’s important information that everyone should brush up on, but some insurance agencies offer you a discount if you have been certified as a defensive driver.
4. Park Your Car In A Garage
Having your car parked in a garage eliminates the threat of vandalism, theft, storm damage, traffic damage, which is a huge relief to certain insurance companies. Here’s why: Depending on your area, insurance costs may be based on the potential for certain accidents. For example, insurance in a high crime area may be more expensive due to the increase amount of accidents. Having your car parked outside is an open invitation to these accidents, which equals more money those insurance companies have to pay. Keeping your car safe inside is a boon to both your car and your insurance, and many agencies offer discounts because of this.
5. Study Up
Do some research before signing up with a policy. There are plenty of agencies on the market, and if you’re not satisfied with your current premium, then it’s your job to look elsewhere. Figure out what you want, what you can do, and what would benefit you the most, and then shop around. Always ask what discounts are available to you, or an agency may just quote you with a lower premium. See what multiple agencies have to offer. Bottom line: make sure you’re getting the best protection for a fair price.
It’s important that you remember these things when shopping around for a new car, or a new car insurance policy. Dig deep and find out what discounts are offered, and make sure you work with a knowledgable, trustworthy agent who can give you a fair price. Remember, you can’t expect quality insurance if the premium is too low. Talk with your agent, or multiple agents, to find out what the best fit to you and your car is.
If you’d like some help putting together an ideal policy, contact our Insurance Architects today, and we will happily walk you through a free assessment, and answer any additional questions you may have.